Mark Carney to take a very important post

WITH a remuneration package worth £874,000 a year, nobody would argue that Mark Carney will be poorly paid when he starts work as the new Governor of the Bank of England.

PUBLISHED: 03:58, Fri, Feb 8, 2013

New Governor of the Bank of England Mark Carney

But the duties of a central banker are awesome. Mr Carney will be in charge of the entire sweep of monetary policy, including the setting of interest rates, decisions about so-called quantitative easing and regulation of commercial banks.

If he really is the best in the business – as is almost universally suggested by senior economists and politicians – then paying him a similar salary to that commanded by a typical fringe squad member in a mid-table Premier League football team will soon seem like very good value for money indeed.